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Most Bank of Japan (BOJ) policymakers said inflation may overshoot initial expectations, with one member saying it was important to communicate an exit strategy from ultra-easy policy when the "right timing comes," a summary of opinions at the BOJ's September meeting showed on Monday.
A majority of the board members called for maintaining ultra-loose monetary policy due to Japan's still weak economy and an expected slowdown in inflation next fiscal year, when the impact of soaring fuel costs dissipates, the summary showed.
But one member pointed to concern held among some market participants over distortions in bond market functioning, driven partly by the BOJ's huge bond buying.
"With a view to ensuring financial market stability, it is important for the BOJ to continue to monitor and examine market conditions and, at some point in the future when the timing is considered appropriate, to make proper communication with the markets, such as regarding exit strategies," the member was quoted as saying.
At the September 21-22 meeting, the BOJ maintained ultra-low interest rates and its guidance pledging to keep monetary policy ultra-loose until inflation stably achieves its two percent target.
(With inputs from Reuters)
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Disinformation report hotline: 010-85061466